Singapore’s softer-than-expected core inflation reading for October prompted Barclays to lower its inflation forecasts and shift its base case for MAS easing to begin in January instead of April.

Singapore’s core inflation in October slowed to the weakest pace since December 2021, as heathcare and recreation price gains eased.

Singapore’s core inflation measure — which strips out prices of accommodation and private transport — came in at 2.1%, down from the 2.8% seen in September.